Scottish Widows Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Scottish Widows offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Scottish Widows and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am seeking some mortgage advice. I am currently a finacial contractor, One year into a 2 contract. However, I'm unlikely to be moved onto a permanent contract until around May time. My question is, will Scottish Widows even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have retained an IFA regarding my remortgage because I have just won a fixed term contract of four years (on a grad scheme). My contract started date earlier this year. I am seeking a 5 year fixed rate deal. Property worth 165K, I want to borrow £150,000. I bought the property four years ago for £157,000 and I currently owe 115k to Scottish Widows
I am a self employed contractor. Mortgage options are being looked at but its problematic. I have considered is whether I could get a letter from my company clarifying that I will be moved onto a permanent contract before the expiry of my set term? Would this assist my cause when applying for a mortgage with lend
What criteria does a mortgage lender (for example Scottish Widows) adopt to categorise someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
Myself and my fiance are currently about to apply for our first mortgage with Scottish Widows. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed by the NHS as a doctor, and so does have a healthy incomefor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
The above information is in relation to properties in England and Wales.
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